● 诺安基金管理有限公司 当前，世界百年变局加速演进，国际国内形势深刻变化，我国经济正处于迈向高质量发展的关键时期。 中央金融工作会议明确提出"做好科技金融、绿色金融、普惠金融、养老金融、数字金融五篇大文章"， 为加快建设金融强国勾勒出实践路径；新"国九条"的出台，为资本市场深化改革、行稳致远提供了有力 支撑；《推动公募基金高质量发展行动方案》的发布，进一步锚定行业发展坐标，为公募基金行业从规 模扩张迈向质量提升标明了前行航向。 绘就"五篇大文章"新图景 资产管理之道，不在朝夕之盈，而在长远之兴。对诺安基金而言，长期主义不是一句口号，它深度融入 公司经营发展的每一个环节，通过服务国家战略、解决社会需求的具体行动落地。诺安基金坚信，只有 将自身发展融入国家战略与民生需求，以实际行动回应"五篇大文章"的时代命题，才能在时间的长河中 沉淀出真正的价值。 诺安基金深刻认识到，高质量发展是行业响应时代号召的必然选择，更是基金管理人践行金融为民初心 的核心使命。在全球格局和科技创新趋势持续变革的今天，资本市场已超越单纯的经济晴雨表功能，成 为支持国民经济转型发展的重要枢纽，在服务国家战略与实体经济发展中发挥着不可或缺的作 ...

Core Insights - The financial industry is focusing on accelerating digital and intelligent transformation, with a significant emphasis on financial technology innovation during the "14th Five-Year Plan" period [1] - By 2025, artificial intelligence (AI) technology is expected to be deeply integrated into every core aspect of the public fund industry, enhancing efficiency, professionalism, and alignment with investor needs [1] Research and Investment System Reconstruction - AI technology is becoming a key variable in transforming the investment research capabilities of public funds, moving from traditional reliance on individual experience to intelligent data mining and human-machine collaboration [2] - Notable advancements include the deployment of the DeepSeek financial model by Nuon Fund, marking a new era of technology-driven business empowerment [2] - Southern Fund is leveraging cloud-native technology to enhance its investment research capabilities and service efficiency [2] Product Layout Innovation - The commercialization of AI technology is driving innovation in product layouts within public funds, with a focus on AI-themed products supported by government policies [4] - The approval of 16 hard technology products, including AI ETFs, signifies a strong commitment to supporting strategic emerging industries [4] - Active equity funds with high exposure to AI-related industries have shown significant profitability, with some funds achieving over 190% returns year-to-date as of November 26, 2025 [5] Marketing and Service Upgrades - The increasing diversification and personalization of wealth management demands are challenging traditional models, prompting a shift towards technology-enhanced service efficiency and customer experience [6] - The award-winning intelligent wealth management platform by CITIC Securities demonstrates a successful digital transformation model for the public fund industry [6] Risk Control and Compliance - The transition from experience-based risk control to intelligent risk management is enhancing precision and timeliness in risk assessment [8] - AI is enabling a dual-dimensional monitoring system for risk control, incorporating macroeconomic factors to mitigate systemic risks [9] - The use of AI in simulating extreme market conditions allows for precise risk assessment and informed decision-making in fund management [9] Future Outlook - The integration of AI with alternative data sources is expected to deepen insights into innovative enterprises, enhancing the transparency and controllability of AI models [10] - AI is positioned as a critical tool for building core competitiveness in quantitative investment, promising more stable excess returns and improved risk management for investors [10]

Core Insights - The public fund industry is facing a significant transformation driven by the adoption of AI technologies, which are seen as essential for long-term development rather than a mere trend [1][2] - AI is increasingly viewed as both a challenger to traditional fund management practices and a means to enhance research capabilities within the industry [1][4] Group 1: Internal Demand for AI - The push for AI adoption in public funds is primarily driven by the urgent need to address deep-seated industry challenges, such as efficiency improvement and risk control [2][3] - AI technologies are crucial for processing vast amounts of data and automating workflows, which are essential for enhancing competitiveness in asset management [2][3] - Institutions like Tianhong Fund have recognized that traditional models lead to diminishing returns as scale increases, and AI enables "intelligent scaling" to convert scale advantages into service capabilities [2][3] Group 2: AI's Role in Investment Research - AI is enhancing the investment research capabilities of fund companies by serving as both an assistant and a challenger to traditional thinking [4][5] - In active management, AI tools like Tianhong's TIRD platform and deep learning models from other firms are proving effective in identifying investment opportunities from large datasets [4][5] - AI can sometimes provide contrary signals to fund managers, which can help mitigate risks and protect performance, showcasing the value of human-machine collaboration [5][6] Group 3: Data Security and Model Reliability - As AI becomes more integrated into core business functions, data security and model reliability have emerged as critical concerns for the industry [6][7] - Challenges include data leakage, compliance risks, and the need for accurate and secure data management practices [6][7] - Firms are actively developing comprehensive security frameworks to ensure the reliability of AI-driven conclusions while maintaining data privacy [7] Group 4: Future Outlook for AI in Public Funds - The future application of AI in the public fund industry is expected to evolve, focusing on reducing repetitive tasks and enhancing value creation through better decision-making [7][8] - The industry is still in the exploratory phase of AI application, with potential advancements in specialized models and cross-institutional data collaboration [7][8] - Companies like E Fund are leading in AI talent development, emphasizing the integration of technology, business understanding, and compliance awareness to drive innovation [7][8]

Core Insights - The company is actively embracing the AI wave to transform its business model and enhance its competitive edge in the asset management industry [1][2][3] Group 1: AI Integration and Business Transformation - The asset management industry faces challenges such as efficiency improvement, risk control, and service innovation, necessitating a digital transformation of traditional business models [2] - The company has initiated a series of AI-driven innovations, including the development of a private AI model platform that supports various functionalities like image content extraction and document summarization [2][3] - By 2025, the company aims to leverage AI technologies significantly, having already localized the DeepSeek financial model, marking a new era of technology-driven business empowerment [3] Group 2: AI Platform Structure and Functionality - The company's AI platform is built on a three-layer closed-loop system, integrating platform, scenario, and value layers to enhance operational efficiency [4] - The platform supports multiple models and incorporates key technologies to ensure precise adaptation to business scenarios, facilitating a stable technical foundation for large-scale applications [4][5] - The AI technology has been fully integrated into the equity research process, enhancing data retrieval, team collaboration, and investment strategy optimization [5] Group 3: Security and Organizational Impact - A comprehensive security system has been established to protect sensitive data, ensuring strict access control and data management [6] - The implementation of the AI platform has led to significant improvements in operational efficiency and decision-making quality across various business lines [6] - The platform fosters a culture of collaboration and innovation within the organization, encouraging employees to actively participate in AI application development [6] Group 4: Commitment to Technology and Economic Empowerment - The company has a long-term investment strategy in the technology sector, supporting over 740 tech companies with IPO fundraising, reflecting its commitment to empowering the real economy [7] - The company has been recognized for its investment capabilities, ranking third in a list of asset management institutions investing in specialized and innovative companies [7] - The strategic integration of AI and finance positions the company to continue advancing towards a more intelligent and efficient future [7]